In Year $2,$ sales are expected to increase by $90\%.$ Management has made the following preliminary decisions.

a$.$

b$.$

c$.$

d$.$

e$.$

f$.$

Net property, plant, and equipment will increase from $$300$ to $$1000$

Loans payable will increase from $$300$ to $$1200.$

Gross profit percentage will decrease from $30\%$ to $28\%.$

Other operating expenses as a percentage of sales will decrease from $18\mathrm{.}5\%$ to $14\%.$

The income tax rate will increase from $42\mathrm{.}9\%$ to $57\mathrm{.}2916666666667\%.$

Dividends will increase from $$15$ to $$50.$

Use the above information to fill in the blanks. There is an attached spreadsheet template to help with your calculations. Please note that the tax

$\backslash$table$[[,\backslash$table$[[$Actual$],[$Year $1]],\backslash$table$[[$Forecasted$],[$Year $2]]],[$Income Statement$],[$Sales$,1,000,],[$Cost of Goods Sold,${700}_{?},],[$Gross Profit,$300,],[$Depreciation Expense,$-15,],[$Other Operating Expenses,$-185,],[$Operating Profit,$100,],[$Interest Expense,$-{30}_{?},],[$Income before Taxes,$70,],[$Income Taxes,$-{30}_{?},],[$Net Income,${40}_{?},],[\backslash$table$[[$Actual$],[$Year $1]],\backslash$table$[[$Forecasted$],[$Year $2]]],[$Beginning Retained Earnings,$35,],[+$ Net Income,$40,],[-$ Divjdends,$-1,],[$Ending Retained Earnings,${60}_{?},],[$Cash$,\backslash$table$[[$Actual$],[$Year $1],[10]],\backslash$table$[[$Forecasted$],[$Year $2]]],[$Accounts Receivable,$10(,],[$Inventory$,151,],[$Property$,$ Plant, and Equipment $($net$),30r^{-1},],[$Total Assets.,$561,],[$Accounts Payable,$100,],[$Loans Payable,$30c,],[$Paid$-$in Capital,$100,],[\backslash$table$[[$Retained Earnings$],[$Total Liabilities and Equities$]],\backslash$table$[[60],[560]],]]$